950 farmers benefit from CBN, RUFIN’s Anchor Borrowers’ Programme

The Central Bank of Nigeria (CBN) in collaboration with Rural Finance Institution Building Programme (RUFIN), last week, launched the Anchor Borrower programme for farmers in Anambra State to benefit from the CBN’s N40 billion from the N220 billion Micro, Small and Medium Enterprises Development Fund for farmers at a single-digit rate of 9%.

The apex bank, which has continued to act as a financial catalyst in the agricultural sector of the economy, embarked on the project under the Anchor Borrowers’ Programme, targeted at creating economic linkages between over 600,000 smallholder farmers and reputable large-scale processors.

Speaking during the flag-off programme in Awka, the CBN Branch Controller, Chuks Sokari, expressed optimism that the state would continue to lead in innovation in view of her abundant manpower and excellent climate.

The benefitting farmers, numbering about 950, who got bags of rice seedlings, fertilizers, chemicals and cash sum of N10, 000 to N20,000 each for land clearing , however, expressed mixed feelings over the timing of the distribution of the agricultural products.

A farmer, Obi Odimegwu, said he was overwhelmed by the assistance from the CBN, saying it would go a long way in boosting the morale of the farmers as well as hasten their activities in the farm.

Addressing the farmers during the event, the Governor of the state, Willie Obiano, was optimistic that the farmers would live up to the expectation, following the track records they had demonstrated in recent times.

The governor who was represented by Head of Service, Hary Udu, commended the farmers for their interest in farming which he said, is evident in the achievements the state had so far recorded in agriculture.

On the timing for the distribution, Emeagwali said the delay was as a result of some challenges encountered by the unit, adding that majority of the beneficiaries were drawn from communities that plant twice in a year.